HomeMy WebLinkAbout087 - 06/18/1996 - APPROPRIATING UNANTICIPATED REVENUE IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND ORDINANCE NO. 87, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND
WHEREAS,Article V, Section 15, of the Charter of the City of Fort Collins (the"Charter")
permits the Council to appropriate unanticipated revenue which results from rate or fee increases or
new revenue sources at any time during the year in which such revenue is received; and
WHEREAS,Article V, Section 10,of the Charter provides that federal grant appropriations
shall not lapse if unexpended at the end of the budget year until the expiration of the federal grant;
and
WHEREAS,the City will receive in federal fiscal year 1996-1997 unanticipated revenue in
the form of federal Community Development Block Grant (CDBG) funds totaling $1,202,000,
constituting a new revenue source; and
WHEREAS, the City expects to receive CDBG Program income in the 1996-1997 federal
fiscal year in the amount of$40,000; and
WHEREAS,Resolution 96-69 ,approved by the Council on June 4, 1996,adopted the 1996-
199E Community Development Block Grant Program.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1. That there is hereby appropriated for expenditure from unanticipated revenue in
the federal fiscal year 1996-1997 in the Community Development Block Grant Fund the sum of
ONE MILLION TWO HUNDRED AND TWO THOUSAND DOLLARS($1,202,000),upon receipt
from federal fiscal year 1996-1997 Community Development Block Grant Funds.
Section 2. That there is hereby appropriated from unanticipated program income revenue for
approved Community Block Grant projects, upon receipt in the Community Development Block
Grant fund the amount of FORTY THOUSAND DOLLARS ($40,000) for approved Community
Development Block Grant projects.
Introduced,considered favorably on first readin d or red published this 4th day
of June, A.D. 1996, and to be presented for fina=passagethe y o£3iine, A.D 96.
Mayor %
ATT)� (� a _�_�
City Clerk �—
Passed and adopted on final reading this 18th day =e, A.D 996.
ayor F
ATTEST:
City Clerk T6